St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-23
On the Chicago Board of Trade the
Wheat Crowd Got Quite
Nervous,
Chiefly Because the Arrivals of Spring
We're Grading Below Ex-
pectations.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Speciai TO the Globe.


patches At the same time it is very gener-
ally understood and believed by the best in
formed grain merchants that they have been
actively buying wheat at st. Louis and Du-
luth for December and May at current val
ues Bingham Lehrke & Co. and Cattel have
had agents circulating through the West in
dustriously for two or three weeks. They
have certainly picked up considerable wheat
here and elsewhere and are competing for
old spring. 1t is reported that Saverns
owns 100000 bushels of cash re-
ceipts III his own warehouse,
which he holds off the market
though several tempting bids have been
made for big lots. Parties in from the North
west unite in running down the quality of
receipts of new wheat which averages poorly.
Wheat broke Ss@l2c soon after opening this
morning on sales by Bloom. The crowd
took the offerings and as soon as this pres
sure was off, the market reacted buoyantly.
There was unquestionably strong buying.
The crowd was somewhat mystitied as to
where the support came from, but it was
there. That they could see very plainly.
They could
FEEL. THE MUSCLE
If they could not see the hands. The market
grew stronger as the session advanced. By
12:45, October was up to 70lsc, December
7SlSc and May 7S$sc, with very active in
euiry on the bulge. II was yesterdays last
half hour over again, great excitement
and a buoyant market The l o'clock
range shows gain of l2c on the
day and spreads the range TO nearly 1c. The
corn market was dull and averaged weak and
lower, The shipping trade is less active and
speculation is getting into other things.
Much less was done i'll the pit to-day than
any previous day this week. October ranged
40s40414c, with most of the business be-
low Zoe. November ranged 407S@4112c;
May from 445s to 4414c. Estimated receipts
tomorrow 405 cars. Provisions were dull
and tritie easier. January pork lost Toe.
Lard was soft and ribs unchanged. On the
afternoon board wheat was tirmer and
shade higher. Corn steady, provisions firmer
and shade higher. 2:3O p. m. prices:
Wheat September, 69l2c: october. zoe; d e.
cember, 727s@73c; May, 7Sssc. Corn, Sep
TENDER, 407Sc; October, 4lc; December,
4o7sc. May. 44l2c bid. Oats, 2512c, Septem-
Der; 25s4c, October; 2SAc, May. Pork, S11.S2
year; S12.15 January. Lard, 32l2, Sep
TENDER, October; December, $3.50; May,
S6.67l2. Short ribs, SS.2712, September and
October.
THE ROUTINE REPORT.
CHICAGO, Sept 22.-The wheat crowd was
very much exercised this morning because
the arrivals of spring wheat are grading low.
This fact in addition to the heavy covering
of the shorts late yesterday, made very
stiff opening to day. AS the day advanced
the crowd got quite nervous. The scalpers
were disposed to be bearish but whenever
the market got down little there was such
good buying of the cash article that they
covered speedily. Favorable cables were
somewhat counteracted by the total lack of
clearances at New York Aggregate receipts
at twelve points were 527, 900 bushels, ship
ments, 272, 600 bushels. The market showed
signs of decline about the middle of the
morning session, after opening at closing
prices. At the noon hour some local house
began to purchase December quite
freely, when there was another eff
fort, with many to cover shorts. New Workers
were also known to be buyers. When De-
cember reached 73c there were lot of stop
orders. The bullish feeling kept prices NOV
ing for half an hour, when there was slight
reaction. making the closings about Ac I'M
der the best point touched for the session.
October opened at 6934c, sold down to 698sc,
and steadied at 6S5sc. The special firmness
October at once went to 7Olsc, afterward
closing at zoe. December opened at 72l2c,
sold to 724c, and before the close up to
1850, closing at 72$s@13c. Corn was easier,
in sympathy with weakness at New York,
due to the belief that about 4, 100000 bu;
were now on the way there. Another ele-
ment was the large arrivals here and it
was rumored that the railroads were
considering a further reduction of corn
freights from Missouri river points. When
wheat firmed up, corn also went up little,
the shorts covering on any indication of
strength. The opening was about the same
as the closing prices of yesterday and under
LIBERAL offerings declined Ss@12c, later ruled
hrmer, advancing 14Qssc, then ruled steady
and closed shade easier than yesterday. May
opened at 44ssc, sold to 44I4@448sc to-
gether, recovered to 44lac, where after some
slight fluctuations it closed. Oats were very
tame. Fluctuations were SO insignificant
that no material change was quotable
Provisions were weaker to-day, but bust
ness was moderately large, being chiefly in
lard. Receipts of hogs were liberal and
prices were lower. Holders of products were
more inclined TO sell, but buyers operated
sparingly, and the result was decline of 1Oc
on pork, 2l2@7l2c on short ribs These de-
clines, however, were afterward partially re-
covered. October lard sold, at Sc 3O@6. 35,
and closed at Sc 32l2 October short ribs
soldat SS.20@S 27I2, closing at the latter
figure. Mess pork for January sold at
$12.07l2@1220.. closing at S12.15 asked.
The shipment demand was moderate for
meats, but =, 600 tierces of lard were taken
for export.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. September 691sc closing at
69l2c; october, 69S4c, closing at zoe; De-
cember, 72l2c, closing at 727sc; May, 7scs
closing at 7sase; Corn-No. 2, September
Ale, closing at 4O1sc; October, 41lsc, clos
ing at dc; November, ALAG, closing at
411sc; May. 445sc. closing at 44I2c. Oats
No. September, 5Ac, closing at 25Ac; Oc
teber, 25Ae, closing e.. at 25Ac; November
at 25a4c. Mess pork. per bbl-Year s1I. SO,
closing at S11 e2l2; January, S12. 20, closing
g. SIP d5;s. Lard per go, 100 lbssaseptember,
closing atS6 .32l2; November, s627Ia,
closing at $6.32Ea; January, SO 37l2,
closing at $6:S7ls. IS Short nor ribs, per